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Mental health disorders are among the leading worldwide causes of disease and long-term disability. This issue has a long and painful history of gradual de-stigmatization of patients, coinciding with humanization of therapeutic approaches. What are the current trends in Russia regarding this issue and in what ways is it similar to and different from Western countries? IQ.HSE provides an overview of this problem based on research carried out by Svetlana Kolpakova.

On September 5, Laurie Manchester, Associate Professor of History at Arizona State University, presented her paper on voluntary repatriation of Russians from China to the Soviet Union between 1935 and 1960. The presentation was part of the research seminar, ‘Boundaries of History’, held regularly by the Department of History at HSE University in St. Petersburg. HSE News Service spoke with Laurie Manchester about her research interests, collaborating with HSE faculty members, and the latest workshop.

Dr. Sabyasachi Tripathi, from Kolkata, India, is a new research fellow at HSE University. He will be working at the Laboratory for Science and Technology Studies of the Institute for Statistical Studies and Economics of Knowledge.

This article evaluates the peculiarities of current corporate ratings systems and addresses specific issues of the development of econometrical rating models for emerging market enterprises. Financial indicators, market-value appraisals, industrial as well as macroeconomic factors of different countries were used as explanatory variables. Ratings of the Standard & Poor's, Moody's Investors Service and Fitch Ratings agencies were considered and used for modelling. The predictive power of the econometrical models was examined. A comparison of the methodologies of the three leading agencies was discussed.

The paper is devoted to the issue of construction of the term structure of interest rates for China’s bond market. It provides an overview of the related studies for the period from 1997 to 2010. The paper also gives a brief description and history of the approach applied by China Central Depositary & Clearing (CCDC) in order to construct the yield curve out of the China’s bond market data.

The author traces the analysis evolution of the monetary shocks effects on the economy, exploring the key approaches to modeling of the monetary transmission mechanism. The article emphasizes the necessity of the monetary transmission mechanism modification in the conditions of current financial crisis: the active role reflection of the financial intermediaries, accounting of the development degrees of institutional capacity in the economy.

We argue that the result of dynamic inconsistency of optimal policy is based on an unrealistic assumption
that expropriations of property rights or defaults of government debt may be optimal. If we pose an
exogenous constraint, which forbids all implicit forms of government debt defaults or expropriations, we
get that optimal policy is always dynamically consistent. We demonstrate this result in the Chamley-Judd’s
framework of an optimal capital taxation problem. We show that under the No Implied Default Condition
optimal policy starts with a revision of consumption and labour taxes, afterwards all taxes are about constant
and the capital income tax is about zero. The No Implied Default Condition, which guarantees property
rights and dynamic consistency, requires that household’s wealth be considered as predetermined in the
same units as the household’s objective function.